The Executive Board of the International Monetary Fund (IMF) will meet on April 29 to finalize the final review of Pakistan’s $3 billion Standby Agreement (SBA).

Dawn quoted diplomatic sources as saying that the review meeting will be held on April 29 at 10 am according to the IMF event calendar.

Tthe schedule of the Executive Board of the International Monetary Fund up to April 29 was recently released, which did not include the economic review of Pakistan.

However, the report said that previous statements by both the IMF and Pakistani officials indicated that the board would not only meet on April 29, but that the $1.1 billion final installment will be approved on the same date.

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Pakistan and IMF had reached an agreement to release the final tranche in March this year after a delegation from the Fund came to Pakistan.

However, the release of the funds is subject to approval from the executive board.

The country’s current $3 billion arrangement with the fund runs out in late April and the government is seeking a longer and bigger loan to help bring permanence to macroeconomic stability as well as an umbrella under which the country can execute much needed structural reforms, Finance Minister Muhammad Aurangzeb recently said.